ITU Ventures Managing Partner Chad Brownstein announced last Monday, May 14, 2007, the intention of the company to increase its investing activity and expand its business involvement in the Media Technology sector.
As industry insiders may know, ITU Ventures has been strategically strengthening its Management team in the past few months in preparation for this move. Last February, the company hired Mr. Leslie Bider, former Chairman and CEO of Warner Music, as Chief Strategist to bring in his wealth of experience, leadership expertise and first-hand knowledge of the music industry landscape.
Last month, ITU Ventures also brought into their Executive Team Mr. Adam Shaw, former Senior Vice President of distribution, sales and marketing for the NFL Network, to bring in the same experience, expertise and knowledge, only this time, of the television, cable and broadcast industry areas.
With both Mr. Bider and Mr. Shaw now on board, ITU Ventures plans to identify and pursue new opportunities in the Media and Communication business spaces. The company is eyeing to support development of new technologies key to music distribution and piracy protection in this environment and focus on value creation for the company's investors at the portfolio level.
The official press release can be found at the ITU Ventures Press Release Center:
ITU Ventures Set To Expand Media Technology Portfolio
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